Overdraft - Which bank?

pimento

It sobered me up, I can tell you. It's about a week's wages to him after tax so no small beer.

He's got the message and is now thinking about de-camping to another bank. I've tried telling him they're all the same and that the only thing that will really work is to play them at their own game and not give them an excuse to take his hard earned wages. I hope he can.

innovate

Hope your son doesn't think he can escape the debts he accumulated by changing bank, because as you know, he can't. His records with the credit reference agencies would be shot to pieces, and his original bank is most unlikely to just let him run. It stings if it is a week's of wages, but if he doesn't watch it, it will be two, three, four, umpteen weeks. He has to seriously pull himself together and sort himself out before he loses control.

He can't get out of this by changing bank.

pimento

He's not trying to get out of it. He's paid the fees. He's in credit. He doesn't have any debts.

System

RBS and NatWest do a control option on their standard account at no additional cost. Lloyds and others that offer this all charge £10

It will stop most transactions of this type and doesn't charge penalty charges for those it doesn't catch.

pimento

Thanks Heng. I'll pass that information on.

Thrugelmir

pimento wrote: »

I've tried telling him they're all the same and that the only thing that will really work is to play them at their own game and not give them an excuse to take his hard earned wages.

Not a game. Rules are rules. Break them pay the consequences. That's the facts of life.

jonesMUFCforever

OP ask if his bank will put on a strict limit on his account - roughly the same as a Lloyds control account without the charge.